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2014
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Duluth Metals Announces Results from Twin Metals Fence Drilling Program

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TORONTO, December 6, 2013 /PRNewswire/ --

 

  • Close spaced diamond drilling program shows good continuity of mineralization and excellent correlation between the new drilling and the existing resource model.
  • The program provides the Joint Venture team the necessary information to define the drill spacing required to upgrade Indicated to Measured Resource within the resource base.
  • AMEC is currently working on a revised Technical Report updating the current September 15, 2012 resource estimate.
  • The holes show excellent consistency within the Maturi Deposit.

Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX: DM.U) is pleased to announce that Twin Metals Minnesota LLC ("Twin Metals") has completed 35 closely spaced diamond drill holes within the Maturi Deposit. This drilling was designed to provide the Joint Venture team the necessary information to define the drill spacing required to upgrade Indicated to Measured Resource within the resource base. The program completed two crossing perpendicular fence lines, each 1000 feet in length with holes spaced 50 feet apart within the basal mineralized zones (Figs. 1-3). The program utilized four (4) existing holes in addition to the 35 new holes. Preliminary examination of drilling and assay results shows an excellent correlation between the new drilling and the existing resource model.

"It is seldom, if ever, that you can expect to match new drilling to an existing geological model with this kind of precision," said Vern Baker, President of Duluth Metals Limited. "The way this drilling matches to the existing model shows once again how this resource has a consistency and continuity beyond most metallic resources."

Figure 1 is a map showing the fence drill holes locations. Figure 2 shows a cross section along the SW to NE drill hole fence, and Figure 3 shows a cross section along the NW to SE drill hole fence.

A more detailed summary of the assay results for MEX-0442 to MEX-0467 and MEX-0469 to MEX-0477 can be found in the table below. True width is estimated at 80-100% of core length.


    Section      HOLE        Zone      From      To      Length     Cu      Ni      TPM
                                       (ft)     (ft)      (ft)     (%)     (%)     (g/t)
                             @0.3%
                              Cu
     SW-NE     MEX-0473     cut-off    689       941     252.0     0.53    0.16    0.371
                             @0.3%
                              Cu
     SW-NE     MEX-0443     cut-off    655       834     179.0     0.66    0.20    0.504
                             @0.3%
                              Cu
     SW-NE     MEX-0446     cut-off   639.3      824     184.7     0.75    0.25    0.574
                             @0.3%
                              Cu
     SW-NE     MEX-0449     cut-off    636       884     248.0     0.66    0.19    0.465
                             @0.3%
                              Cu
     SW-NE     MEX-0452     cut-off   638.75     847     208.3     0.80    0.23    0.701
                             @0.3%
                              Cu
     SW-NE     MEX-0454     cut-off    640       845     205.0     0.77    0.22    0.535
                             @0.3%
                              Cu
     SW-NE     MEX-0457     cut-off    659       904     245.0     0.66    0.19    0.427
                             @0.3%
                              Cu
     SW-NE     MEX-0459     cut-off    681       906     225.0     0.67    0.20    0.498
                             @0.3%
                              Cu
     SW-NE     MEX-0464     cut-off   699.5      962     262.5     0.74    0.22    0.519
                             @0.3%
                              Cu
     SW-NE     MEX-0469     cut-off   707.3      986     278.7     0.72    0.21    0.482
                             @0.3%
                              Cu
     SW-NE     MEX-0448     cut-off    660       924     264.0     0.66    0.19    0.419
                             @0.3%
                              Cu
     SW-NE     MEX-0467     cut-off    674       991     317.0     0.63    0.19    0.425
                             @0.3%
                              Cu
     SW-NE     MEX-0472     cut-off    689       997     308.0     0.64    0.21    0.469
                             @0.3%
                              Cu
     SW-NE     MEX-0476     cut-off   690.7    1038.3    347.6     0.62    0.19    0.393
                             @0.3%
                              Cu
     SW-NE     MEX-0466     cut-off   621.25    1009     387.8     0.61    0.19    0.419
                             @0.3%
                              Cu
     SW-NE     MEX-0471     cut-off   633.75   1005.5    371.8     0.58    0.18    0.454
                             @0.3%
                              Cu
     SW-NE     MEX-0474     cut-off    634     1007.25   373.3     0.52    0.16    0.359

                             @0.3%
                              Cu
     NW-SE     MEX-0463     cut-off   550.75     763     212.3     0.69    0.20    0.404
                             @0.3%
                              Cu
     NW-SE     MEX-0462     cut-off    544       781     237.0     0.76    0.22    0.492
                             @0.3%
                              Cu
     NW-SE     MEX-0460     cut-off   545.6      786     240.4     0.81    0.24    0.476
                             @0.3%
                              Cu
     NW-SE     MEX-0458     cut-off    557       807     250.0     0.70    0.21    0.444
                             @0.3%
                              Cu
     NW-SE     MEX-0456     cut-off   601.25     808     206.8     0.74    0.23    0.461
                             @0.3%
                              Cu
     NW-SE     MEX-0453     cut-off   614.4      903     288.6     0.69    0.20    0.459
                             @0.3%
                              Cu
     NW-SE     MEX-0451     cut-off    644      886.5    242.5     0.73    0.22    0.457
                             @0.3%
                              Cu
     NW-SE     MEX-0445     cut-off    690       994     304.0     0.58    0.17    0.382
                             @0.3%
                              Cu
     NW-SE     MEX-0444     cut-off   717.75    1032     314.3     0.67    0.19    0.470
                             @0.3%
                              Cu
     NW-SE     MEX-0477     cut-off   896.75    1152     255.3     0.45    0.13    0.287
                             @0.3%
                              Cu
     NW-SE     MEX-0475     cut-off   881.25    1108     226.8     0.61    0.18    0.415
                             @0.3%
                              Cu
     NW-SE     MEX-0470     cut-off    932     1212.6    280.6     0.74    0.22    0.557
                             @0.3%
                              Cu
     NW-SE     MEX-0465     cut-off    967     1243.5    276.5     0.65    0.20    0.423
                             @0.3%
                              Cu
     NW-SE     MEX-0461     cut-off    1036     1287     251.0     0.72    0.21    0.518
                             @0.3%
                              Cu
     NW-SE    MEX-0455-W1   cut-off    1065     1322     257.0     0.71    0.22    0.514
                             @0.3%
                              Cu
     NW-SE    MEX-0450-W1   cut-off    1093     1358     265.0     0.61    0.18    0.433
                             @0.3%
                              Cu
     NW-SE     MEX-0447     cut-off    1109    1398.5    289.5     0.65    0.19    0.487
                             @0.3%
                              Cu
     NW-SE     MEX-0442     cut-off    1183     1508     325.0     0.65    0.19    0.473


**TPM = Total Precious Metals (Platinum+Palladium+Gold)
Note:   g/t = grams per tonne

Complete platinum, palladium, gold and silver and assays for MEX-0442 to MEX-0467 and MEX-0469 to MEX-0477 are as follows:


    Section    DHID         Zone         From    To    Length  Pt     Pd     Au     Co    Ag
                                         (ft)   (ft)    (ft)  (g/t)  (g/t) (g/t)   (%)  (g/t)
     SW-NE  MEX-0473   @0.3% Cu cut-off  689     941    252.0  0.102  0.220  0.049  0.01  1.8
     SW-NE  MEX-0443   @0.3% Cu cut-off  655     834    179.0  0.137  0.288  0.079  0.01  2.2
     SW-NE  MEX-0446   @0.3% Cu cut-off  639.3   824    184.7  0.133  0.345  0.095  0.01  2.4
     SW-NE  MEX-0449   @0.3% Cu cut-off  636     884    248.0  0.112  0.272  0.081  0.01  2.4
     SW-NE  MEX-0452   @0.3% Cu cut-off  638.75  847    208.3  0.300  0.325  0.076  0.01  2.9
     SW-NE  MEX-0454   @0.3% Cu cut-off  640     845    205.0  0.133  0.320  0.082  0.01  2.4
     SW-NE  MEX-0457   @0.3% Cu cut-off  659     904    245.0  0.104  0.253  0.070  0.01  2.4
     SW-NE  MEX-0459   @0.3% Cu cut-off  681     906    225.0  0.137  0.295  0.067  0.01  2.3
     SW-NE  MEX-0464   @0.3% Cu cut-off  699.5   962    262.5  0.133  0.303  0.083  0.01  2.6
     SW-NE  MEX-0469   @0.3% Cu cut-off  707.3   986    278.7  0.126  0.279  0.077  0.01  2.7
     SW-NE  MEX-0448   @0.3% Cu cut-off  660     924    264.0  0.101  0.244  0.075  0.01  1.8
     SW-NE  MEX-0467   @0.3% Cu cut-off  674     991    317.0  0.094  0.246  0.085  0.01  2.4
     SW-NE  MEX-0472   @0.3% Cu cut-off  689     997    308.0  0.119  0.276  0.074  0.01  2.7
     SW-NE  MEX-0476   @0.3% Cu cut-off  690.7  1038.3  347.6  0.094  0.237  0.062  0.01  2.3
     SW-NE  MEX-0466   @0.3% Cu cut-off  621.25 1009    387.8  0.118  0.244  0.057  0.01  2.1
     SW-NE  MEX-0471   @0.3% Cu cut-off  633.75 1005.5  371.8  0.111  0.250  0.093  0.01  2.1
     SW-NE  MEX-0474   @0.3% Cu cut-off  634    1007.25 373.3  0.088  0.214  0.057  0.01  1.6

     NW-SE  MEX-0463   @0.3% Cu cut-off  550.75  763    212.3  0.105  0.234  0.065  0.01  2.2
     NW-SE  MEX-0462   @0.3% Cu cut-off  544     781    237.0  0.134  0.275  0.083  0.01  2.4
     NW-SE  MEX-0460   @0.3% Cu cut-off  545.6   786    240.4  0.113  0.271  0.091  0.01  2.8
     NW-SE  MEX-0458   @0.3% Cu cut-off  557     807    250.0  0.115  0.260  0.069  0.01  2.4
     NW-SE  MEX-0456   @0.3% Cu cut-off  601.25  808    206.8  0.107  0.277  0.077  0.01  2.6
     NW-SE  MEX-0453   @0.3% Cu cut-off  614.4   903    288.6  0.115  0.268  0.076  0.01  2.4
     NW-SE  MEX-0451   @0.3% Cu cut-off  644     886.5  242.5  0.115  0.279  0.064  0.01  2.5
     NW-SE  MEX-0445   @0.3% Cu cut-off  690     994    304.0  0.095  0.223  0.064  0.01  1.7
     NW-SE  MEX-0444   @0.3% Cu cut-off  717.75 1032    314.3  0.132  0.270  0.068  0.01  2.3
     NW-SE  MEX-0477   @0.3% Cu cut-off  896.75 1152    255.3  0.074  0.170  0.043  0.01  1.3
     NW-SE  MEX-0475   @0.3% Cu cut-off  881.25 1108    226.8  0.110  0.246  0.058  0.01  1.8
     NW-SE  MEX-0470   @0.3% Cu cut-off  932    1212.6  280.6  0.147  0.306  0.103  0.01  2.9
     NW-SE  MEX-0465   @0.3% Cu cut-off  967    1243.5  276.5  0.111  0.245  0.067  0.01  2.3
     NW-SE  MEX-0461   @0.3% Cu cut-off 1036    1287    251.0  0.127  0.308  0.083  0.01  2.5
     NW-SE MEX-0455-W1 @0.3% Cu cut-off 1065    1322    257.0  0.123  0.311  0.080  0.01  2.6
     NW-SE MEX-0450-W1 @0.3% Cu cut-off 1093    1358    265.0  0.121  0.246  0.067  0.01  2.1
     NW-SE  MEX-0447   @0.3% Cu cut-off 1109    1398.5  289.5  0.131  0.284  0.073  0.01  2.2
     NW-SE  MEX-0442   @0.3% Cu cut-off 1183    1508    325.0  0.117  0.282  0.074  0.01  2.4


Twin Metals' resource estimation consultant, AMEC E&C Services Inc. (AMEC), is working on a revised resource estimate that will incorporate all drilling completed since September 2012. In addition to results from the fence drilling program and revised resource definitions, the estimate will incorporate results of an ongoing drill program designed to upgrade targeted areas of the Maturi resource base from Inferred to Indicated Resource classification. The updated resource estimate and revised Technical Report are expected in the spring of 2014.

The Twin Metals Minnesota Project covers over 32,000 acres of land/mineral interests and consolidates the largest base and precious metal land position in Minnesota. This extensive land position provides Twin Metals with the platform to plan and develop one of the world's largest copper-nickel-PGM deposits within a new emerging mining belt in Minnesota, USA.

For the 2013 Drill Program, half core samples are being prepared at ALS Minerals laboratories in Thunder Bay and then shipped to its analytical facilities in Vancouver. Samples are being analyzed for Au, Pt, and Pd using a 30g standard fire assay with an ICP-AES finish and for 33 other elements using a four acid (near total) digestion and a combination of ICP-MS and ICP-AES. ICP over-limits for copper and nickel are re-analyzed using four acid (near total) digestion followed by ICP-MS. The remaining half core samples are being stored in Minnesota.

Drill collar information for MEX-0442 to MEX-0467 and MEX-0469 to MEX-0477 is shown in the table below:


    Hole           Easting    Northing     Azimuth     Inclination
                                          (bearing)     (degrees)
    MEX-0442       2954436      805006          002            -89
    MEX-0443       2953985      805133          272            -65
    MEX-0444       2954105      805400          084            -90
    MEX-0445       2954104      805401          333            -88
    MEX-0446       2953985      805134          279            -67
    MEX-0447       2954436      805007          320            -85
    MEX-0448       2954104      805402          321            -84
    MEX-0449       2953986      805135          287            -70
    MEX-0450-W1    2954436      805007          320            -83
    MEX-0451       2954103      805402          321            -80
    MEX-0452       2953986      805136          298            -72
    MEX-0453       2954102      805403          321            -74
    MEX-0454       2953986      805138          310            -74
    MEX-0455-W1    2954436      805007          320            -81
    MEX-0456       2954102      805404          321            -70
    MEX-0457       2953988      805139          323            -74
    MEX-0458       2954102      805404          321            -65
    MEX-0459       2953989      805140          336            -75
    MEX-0460       2954101      805405          321            -59
    MEX-0461       2954436      805008          320            -78
    MEX-0462       2954099      805406          321            -53
    MEX-0463       2954098      805408          321            -47
    MEX-0464       2953989      805142          357            -71
    MEX-0465       2954435      805009          320            -74
    MEX-0466       2954259      805618          154            -89
    MEX-0467       2954095      805386          002            -82
    MEX-0468       2955379      803274          092            -71
    MEX-0469       2953994      805141          004            -69
    MEX-0470       2954434      805009          320            -71
    MEX-0471       2954260      805619          050            -86
    MEX-0472       2954098      805388          017            -81
    MEX-0473       2953980      805128          267            -63
    MEX-0474       2954261      805619          050            -81
    MEX-0475       2954434      805009          320            -68
    MEX-0476       2954098      805383          031            -74
    MEX-0477       2954434      805010          320            -63


*Collar easting and northing coordinates are given as feet in Minnesota North State Plane Coordinates, NAD83 datum.

Phillip Larson, P. Geo. is the Qualified Person for Duluth Metals and Senior Geologist for Duluth Metals, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for Duluth Metals technical content of this press release and quality assurance of the exploration data and analytical results.

About Duluth Metals Limited

Duluth Metals Limited is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth Metals has a joint venture with a wholly-owned subsidiary of Antofagasta plc (Antofagasta) on the Twin Metals Minnesota Project, located within the rapidly emerging Duluth Complex mining camp in north-eastern Minnesota. The Duluth Complex hosts one of the world's largest undeveloped repositories of copper, nickel and PGMs, including the world's third largest accumulation of nickel sulphides, and one of the world's largest accumulations of polymetallic copper and platinum group metals. Aside from the joint venture, Duluth Metals retains a 100% position on approximately 40,000 acres of mineral interests on exploration properties adjacent to and nearby the Twin Metals Minnesota LLC joint venture.

About Twin Metals Minnesota LLC

Twin Metals Minnesota, LLC, is a joint venture company, 60 percent owned by Duluth Metals Limited and 40 percent by Antofagasta. Twin Metals was formed in 2010 to pursue the development and operation of a copper, nickel and platinum group metals (strategic metals) underground mining project within the Duluth Complex in northeastern Minnesota. Twin Metals holds mineral and land assets of approximately 32,000 acres of leased and permitted land, including mineral resources prepared in compliance with the requirements of NI 43-101.

This press release contains forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the results of drilling operations of Duluth Metals and exploration and mine development.  Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".  Duluth Metals has relied on a number of assumptions and estimates in making such forward-looking statements, including, without limitation, the prices of copper, nickel and platinum group metals (PGMs) and the costs associated with continuing exploration and mining development.  Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual results, level of activity, performance or outcomes of such exploration and/or mine development to be materially different from those expressed or implied by such forward-looking statements including, without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the possibility of changes to project parameters as plans continue to be refined, the ability to execute planned exploration and future drilling programs, possible variations of copper, nickel and PGM grade or recovery rates, the need for additional funding to continue exploration efforts, changes in general economic, market and business conditions, and those other risks set forth in Duluth Metals' most recent annual information form under the heading "Risk Factors" and in its other public filings.  Statements related to "reserves" and "resources" are deemed forward-looking statements as they involve the implied assessment, based on realistically assumed and justifiable technical and economic conditions, that an inventory of mineralization will become economically extractable.  Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Duluth Metals.  Although Duluth Metals has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended.  Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof.  Duluth Metals disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.  The forward-looking statements contained herein are expressly qualified by this disclaimer.

Image with caption: "Figure 1: Fence Drill Hole Locations. (CNW Group/Duluth Metals Limited)". Image available at: http://photos.newswire.ca/images/download/20131206_C8313_PHOTO_EN_34622.jpg

Image with caption: "Figure 2: SW to NE fence drill hole cross section. (CNW Group/Duluth Metals Limited)". Image available at: http://photos.newswire.ca/images/download/20131206_C8313_PHOTO_EN_34623.jpg

Image with caption: "Figure 3: NW to SE fence drill hole cross section (CNW Group/Duluth Metals Limited)". Image available at: http://photos.newswire.ca/images/download/20131206_C8313_PHOTO_EN_34624.jpg

For further information:

Mara Strazdins
Vice President Investor Relations and
Corporate Communications
Telephone: +1(416)369-1500 ext. 222
Email: mstrazdins@duluthmetals.com 

Vern Baker
President
Telephone: +1(651)389-9990
Email: vbaker@duluthmetals.com

Webpage:  www.duluthmetals.com

(DM. DM.U.)


SOURCE Duluth Metals Limited



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